One of the most controversial cryptocurrencies, Worldcoin, has seen almost everything this year. From a low of $1.9 at launch to an all-time high of $11.84. Once touted as the top crypto among AI coins, the crypto fell to oblivion as fast as it rose to prominence.
However, there is something that could change its fortune soon. Worldcoin charts have recently shown an interesting pattern which, if it comes true, will take the coin at least 300% up from current levels.
Worldcoin’s Journey in the Past Year
Sam Altman’s founded project Worldcoin had witnessed a massive turbulence last year. The crypto was launched at $1.9 on July 24, 2023 and it soon rose to prominence as the AI token of the future.
Soon, allegations of using sensitive biometric data for onboarding users surfaced and the coin’s price saw a dip till $1.01.
However, despite all the issues, users were lured to use the platform. For each onboarded user, Worldcoin granted them around 25 WLD tokens.
By December 2023, the crypto saw a peak of $4.20 amid rising adoption. Thereafter, the crypto witnessed some slowdown, but as markets rose again due to a broad market rally, the coin joined the bullishness.
Another reason for its bullishness was the record profits in its AI and
By March 2024, Sam Altman revealed a plan to build a chip-manufacturing giant and tried to raise $7 trillion in investment. Seeing his success with AI, the market soon bought Worldcoin in expectation of something big. The price soon climbed to $11.84 making an all-time high.
Since then, Worldcoin has slowly slid down again to $1.75, and at press time, it traded at $2.37.
Controversies Coming to an End
Two controversies played a critical role in Worldcoin’s downfall. The first was the investigation concerning the usage of biometric data, and the second was the unlock schedule.
Iris Scans
Controversies surrounded Worldcoin from the very first day. At its launch, it was widely known that the project uses a biometric signature derived from human iris scans to verify and establish people’s identity over the Worldcoin protocol.
These iris scans were derived from orbs, a round-shaped camera with iris scanners. Since they were being done without much clearance and just on the basis of user consent, they soon began to attract attention.
Certik also raised some concerns about Worldcoin’s Orb Operator onboarding process. However, Wordlcoin soon responded, citing that their security team had promptly resolved the issue.
The first investigation was initiated by the German province of Bavaria and its agency Data Protection Authority.
Another round of investigation was opened by the UK’s Information Commissioner’s Office, a nodal agency in the country for data protection.
Soon, investigations started in multiple countries, like Kenya and India, among others.
Spain halted the onboarding of Worldcoin by March 9, 2024. The last major concern was raised by Portugal, which, on March 26, 2024, asked Worldcoin to stop user onboarding for 90 days. That period ended on June 24, 2024.
However, Worldcoin’s problems might have ended. Kenya recently relieved Worlcoin of any wrongdoings, and we expect other countries to follow suit soon.
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Fundamental Developments Impacting Price
- On Feb 16, 2024, Worldcoin announced that it would create its own Ethereum Layer-2 solution called Worldchain. The creation of a Worldchain could drastically increase Worldcoin’s price targets.
- On 11 April 2024, Worldcoin surpassed 10 million users, making it one of the most highly bought cryptos. Worldcoin also has a daily active user count of 2 million.
- Around the same time, Worldcoin saw an average of 7.1 transactions per second (on Ethereum).
- In July 2024’s first week, Tools for Humanity(the creators of Worldcoin) was reported to have hired top ex-Google executives to ramp up security in Worldcoin.
Interesting Chart Pattern in Worldcoin
The 1D Charts of Worldcoin has shown an interesting pattern.
First Pattern
The downtrend in the Worldcoin daily charts ended on 11 July 2024. The price has not only taken strong support at $41.7 but has refused to go below these levels.
Second Pattern
Further, another minor downtrend has also ended. This downtrend existed for a week between 17 July and 25 July 2024. It started at $2.8 and ended at $2.
Third Pattern
The final pattern on the Worldcoin charts can be seen at the end of the two downtrends. The lowest part of downtrend 1($1.75) is lower than the lowest part of downtrend 2 ($2). This has created another bullish pattern called a Shifting Bottom. Usually, this is termed with another chart pattern called higher tops, but since the previous trend ended at that point, there wasn’t any first top to start with.
Now, only two resistances remain, at $3.15 and $4.45, before Worldcoin makes a near-term high at $8.7. As much as this seems like wishful thinking, we have ample reason to back our claims.
Taking a look at Worldcoin RSI levels, we see that RSI had dropped to 41 and then turned around from that level. At press time, it went higher to 48.9. In technical analysis, this is known as an RSI Pivot. Usually, an RSI Pivot mostly forms prior to a rally.
Another indicator, the MACD, has shown positive convergence. Both lines of the indicator have almost merged, which shows that a potential near-term bullish crossover might be on the cards.
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The Road to Recovery and a New ATH
Now, with the formation of two strong bull patterns and a third mildly bullish pattern, we expect Worldcoin to cross the $3.15 level in a few days.
However, the crypto also needs to cross the $4.5 level so that it can resume its bullishness towards $8.7.
For this, we depend on Bitcoin and the US Presidential elections. A rally in Bitcoin or President Trump’s win could secure us this second resistance, after which $8.7 would be much easier. By then, we need Bitcoin to either rally or stay mildly bullish.
A fall in Bitcoin or bad news for Worldcoin could disrupt this chart pattern.
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Worldcoin Price Predictions 2024 to 2030
The following prices have been estimated based on a mix of fundamentals and prevailing chart conditions. Any large change in both could lead to newer values.
Worldcoin Price Prediction 2024
In a bull case, we expect Worldcoin to cross $4.5 by the end of the year. However, if a bearish scenario pans out, the price might crash to $1.9 due to weaker fundamentals.
Worldcoin Price Prediction 2025
If 2024’s bullish target of $4.5 is achieved and the project sees some revival, we might see Worldcoin create a new all-time high. In a bearish scenario, we might expect it to be able to rally to $3.15 by 2025.
Worldcoin Price Prediction 2026
By 2024, WLD might cross $15 in a bull scenario. This is because the latter part of the year might see a huge market correction as per the 4-year cycle of crypto markets. In a bearish case, WLD might drop to $8.
Worldcoin Price Prediction 2027
Since we expect the start of another bull market by the end of 2027, Worldcoin might reach $20 to $30 in a bull market. Otherwise, the price may be around $10-$15.
Worldcoin Price Prediction 2028
The fifth Bitcoin halving is expected around February – April 2028. In such a bull case, WLD might reach $30 levels. Otherwise, a $15-$20 range could be seen.
Worldcoin Price Prediction 2029
We expect the 2028 bull market to peak by 2029, and hence, WLD might get as high as $50. However, in case of any downfall, it may reach the $20 level.
Worldcoin Price Prediction 2030
By 2030, Worldcoin could only reach above $100 if it creates cutting-edge tech or a high-utility platform. Otherwise, we might see it stuck around the $50 level or even drop to $20 levels.
Analyst Opinions on Worldcoin
On July 17, 2024, a DeFi analyst named DeFi squared dropped the news on Twitter that Worldcoin backers were manipulating the token unlock schedules to benefit themselves.
Worldcoin had denied these accusations.
Another analyst, Paulo Ricci, presents a rather bullish view. Ricci suggests that Worldcoin might cross $3.6 within the next month.
